B 
7.58
+0.26%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.83bn
FY2016FY2025
Net income
CN¥185.5m
FY2016FY2025
Free cash flow
−CN¥153.7m
FY2016FY2025
Shareholders' equity
CN¥1.82bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.83bn | CN¥3.47bn | CN¥3.14bn | CN¥1.88bn | CN¥1.17bn | CN¥1.23bn | CN¥1.70bn | CN¥1.91bn | CN¥1.40bn | CN¥998.5m |
| Gross profit | CN¥734.2m | CN¥714.4m | CN¥610.1m | CN¥249.1m | CN¥197.5m | CN¥307.0m | CN¥339.0m | CN¥499.7m | CN¥397.8m | CN¥305.3m |
| Research and development | CN¥109.1m | CN¥88.4m | CN¥99.3m | CN¥151.2m | CN¥68.6m | CN¥52.9m | CN¥93.0m | CN¥80.6m | CN¥43.9m | CN¥37.4m |
| Operating income | CN¥204.5m | CN¥142.2m | CN¥148.6m | −CN¥159.2m | −CN¥144.1m | CN¥22.0m | −CN¥924.1m | CN¥185.3m | CN¥145.9m | CN¥104.8m |
| Net income | CN¥185.5m | CN¥80.8m | CN¥103.3m | −CN¥172.3m | −CN¥113.3m | CN¥32.2m | −CN¥629.1m | CN¥188.7m | CN¥104.5m | CN¥97.0m |
| Diluted earnings per share | 0.23 | 0.10 | 0.13 | -0.24 | -0.15 | 0.06 | -1.08 | 0.33 | 0.19 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.82bn | CN¥6.81bn | CN¥5.18bn | CN¥3.92bn | CN¥3.39bn | CN¥2.65bn | CN¥2.87bn | CN¥3.96bn | CN¥2.58bn | CN¥1.68bn |
| Cash and short-term investments | — | CN¥580.9m | CN¥492.5m | CN¥266.6m | CN¥403.4m | CN¥284.5m | CN¥511.3m | CN¥567.2m | CN¥468.6m | CN¥242.0m |
| Total liabilities | CN¥5.95bn | CN¥5.12bn | CN¥3.60bn | CN¥2.72bn | CN¥2.19bn | CN¥1.91bn | CN¥2.11bn | CN¥2.24bn | CN¥1.28bn | CN¥760.5m |
| Debt | CN¥827.3m | CN¥1.75bn | CN¥747.6m | CN¥717.5m | CN¥452.3m | CN¥421.4m | CN¥668.8m | CN¥840.4m | CN¥397.0m | CN¥186.0m |
| Shareholders' equity | CN¥1.82bn | CN¥1.62bn | CN¥1.54bn | CN¥1.17bn | CN¥1.35bn | CN¥856.1m | CN¥851.9m | CN¥1.45bn | CN¥1.27bn | CN¥896.5m |
| Shares outstanding | 799m | 800m | 799m | 726m | 740m | 584m | 580m | 580m | 561m | 458m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥5.3m | −CN¥644.6m | CN¥205.8m | −CN¥209.9m | −CN¥272.5m | CN¥157.7m | CN¥312.4m | CN¥54.3m | CN¥36.3m | CN¥62.3m |
| Capital spending | −CN¥158.9m | −CN¥226.9m | −CN¥443.5m | −CN¥94.5m | −CN¥372.5m | −CN¥233.9m | −CN¥243.7m | −CN¥83.2m | −CN¥79.3m | −CN¥37.1m |
| Free cash flow | −CN¥153.7m | −CN¥871.6m | −CN¥237.7m | −CN¥304.4m | −CN¥645.0m | −CN¥76.2m | CN¥68.7m | −CN¥28.8m | −CN¥43.1m | CN¥25.2m |
| Dividends paid | −CN¥97.3m | −CN¥39.1m | −CN¥29.5m | −CN¥30.0m | −CN¥14.6m | −CN¥25.4m | −CN¥14.6m | −CN¥54.0m | −CN¥42.7m | −CN¥48.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥914.5m | CN¥555.2m | CN¥1.53bn | CN¥933.5m | CN¥1.78bn | CN¥597.7m | CN¥908.7m | CN¥890.1m |
| Gross profit | CN¥147.5m | CN¥82.0m | CN¥143.3m | CN¥179.5m | CN¥310.1m | CN¥101.3m | CN¥201.6m | CN¥170.6m |
| Operating income | −CN¥10.7m | −CN¥52.8m | CN¥30.7m | CN¥16.8m | CN¥122.7m | CN¥11.6m | −CN¥35.2m | CN¥34.4m |
| Net income | −CN¥47.4m | CN¥281.5m | CN¥60.4m | CN¥21.6m | CN¥102.6m | CN¥947,278 | −CN¥35.4m | CN¥30.1m |
| Diluted earnings per share | -0.06 | 0.35 | 0.08 | 0.03 | 0.13 | 0.00 | -0.04 | 0.04 |
| Cash from operations | — | — | — | −CN¥177.0m | −CN¥19.0m | −CN¥110.0m | — | −CN¥169.0m |
| Capital spending | −CN¥71.0m | −CN¥39.0m | −CN¥43.0m | −CN¥63.0m | −CN¥29.0m | −CN¥22.0m | −CN¥110.0m | −CN¥187.0m |
| Free cash flow | — | — | — | −CN¥240.0m | −CN¥48.0m | −CN¥132.0m | — | −CN¥356.0m |
| Total assets | CN¥8.21bn | CN¥8.02bn | CN¥7.82bn | CN¥8.40bn | CN¥8.56bn | CN¥7.22bn | CN¥6.81bn | CN¥5.86bn |
| Cash and short-term investments | — | — | — | CN¥791.1m | CN¥1.01bn | CN¥639.2m | CN¥580.9m | CN¥289.6m |
| Debt | CN¥1.28bn | CN¥927.2m | CN¥827.3m | CN¥2.68bn | CN¥2.38bn | CN¥2.04bn | CN¥1.73bn | CN¥1.32bn |
| Shareholders' equity | CN¥2.04bn | CN¥2.10bn | CN¥1.82bn | CN¥1.78bn | CN¥1.75bn | CN¥1.63bn | CN¥1.62bn | CN¥1.68bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 15.2% | 20.6% | 19.4% | 13.2% | 16.9% | 24.9% |
| Operating margin | 4.2% | 4.1% | 4.7% | -8.5% | -12.3% | 1.8% |
| Net margin | 3.8% | 2.3% | 3.3% | -9.2% | -9.7% | 2.6% |
| Return on equity | 10.2% | 5.0% | 6.7% | -14.8% | -8.4% | 3.8% |
| Return on assets | 2.4% | 1.2% | 2.0% | -4.4% | -3.3% | 1.2% |
| Free cash flow yield | 2.4% | -6.2% | 9.6% | -1.9% | 1.6% | 7.9% |
| Revenue growth | 39.2% | 10.6% | 66.8% | 60.7% | -4.9% | -27.6% |
| Earnings growth | 129.4% | -21.8% | -160.0% | 52.0% | -451.7% | -105.1% |
| Current ratio | 1.15x | 1.24x | 1.13x | 1.24x | 1.27x | 1.16x |
| Debt to equity | 0.46x | 1.07x | 0.48x | 0.53x | 0.33x | 0.51x |
| Equity ratio | 23.2% | 23.8% | 29.7% | 29.8% | 39.9% | 32.3% |
| Interest coverage | 2.99x | 3.64x | 4.07x | -3.53x | -8.23x | 0.66x |
| R&D as a share of sales | 2.3% | 2.5% | 3.2% | 8.0% | 5.9% | 4.3% |
| Buybacks as a share of market value | 0.2% | -0.1% | -10.2% | 1.9% | -26.6% | -0.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 37.0% | 31.5% | 22.0% |
| Operating income | — | 56.2% | 7.5% |
| Net income | — | 41.9% | 7.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.4% | 17.3% | 17.9% | 20.6% |
| Operating margin | 4.2% | 2.5% | 1.4% | -0.8% |
| Net margin | 3.2% | 1.5% | 0.7% | -0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 41.5 | 68.6 | 52.1 | -18.2 | -43.5 | 97.4 | -4.6 | 20.2 | 50.7 | 57.4 |
| Price to sales | 1.6 | 1.6 | 1.7 | 1.7 | 4.2 | 2.5 | 1.7 | 2.0 | 3.8 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Jul 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|
| Paid in the year | 0.025 | 0.033 | 0.056 | 0.083 | 0.083 |
- 9-for-5 split · 4 Jul 2018
- 2-for-1 split · 24 Sept 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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